While good old balance sheet data is only available once banks publish their books, we have looked up metrics reported more frequently, which you can follow to give you an overview of just how bad conditions are for banks.
Something for your Espresso: The deposit flight continues
Both weekly and daily indicators of deposit flight continued to show signs of money leaving the banking system for money market funds, while banks continue to underperform. Will the Fed come to accept new all-time highs for the balance sheet?
Something for your Espresso: 3 take-aways from Powell
The Fed is semi-cornered in the discussion on deposit flights and decided to neglect it in practice. Issues are likely going to accelerate on the back of the 25-bps hike. The hiking cycle is over.
Steno Signals #40 – The banking crisis is likely to accelerate in coming weeks
The banking crisis will continue to rage until the Fed and the ECB accept the underlying reason for the deposit flight. Banks cannot cope with an über-inverted yield curve, why cuts are needed asap to contain the situation. It will likely get worse before it gets better.